Waters Corporation (WAT)

Net profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net income (ttm)	US$ in thousands	637,834	622,641	595,690	603,507	642,234	653,091	674,537	688,847	707,755	696,932	702,119	704,547	692,843	694,915	660,499	616,136	521,571	503,929	515,293	536,774
Revenue (ttm)	US$ in thousands	2,909,141	2,825,198	2,766,143	2,798,644	2,857,555	2,913,395	2,928,280	2,913,876	2,923,159	2,904,113	2,856,130	2,822,850	2,740,936	2,690,971	2,625,688	2,463,034	2,316,295	2,242,766	2,225,719	2,306,467
Net profit margin		21.93%	22.04%	21.54%	21.56%	22.47%	22.42%	23.04%	23.64%	24.21%	24.00%	24.58%	24.96%	25.28%	25.82%	25.16%	25.02%	22.52%	22.47%	23.15%	23.27%

December 31, 2024 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $637,834K ÷ $2,909,141K
= 21.93%

The net profit margin of Waters Corporation has shown some fluctuations over the quarters analyzed. It started at 23.27% on March 31, 2020, and experienced fluctuations but generally maintained levels above 20% until December 31, 2021, reaching a peak of 25.82% on September 30, 2021. However, since then, the net profit margin has seen a declining trend, dropping to 21.93% by December 31, 2024. This indicates that the company's profitability relative to its revenue has been somewhat volatile, with periods of high profitability followed by decreases. Overall, although there have been fluctuations, Waters Corporation has managed to maintain relatively healthy net profit margins throughout the period under consideration.